In 2021,EGM adopted resolution u/s.180(1)(c) of CA Act 2013. Now in 2025, we are reducing borrowing limit. Still bank asks for a new resolution as well as CA Certificate U/s.281 of IT Act[ which IT Dept should issue, CA has no authority to issue such Certificate. It is outside their realms per ICAI.
KINDLY GUIDE
The bank may be reinsuring itself. But indeed, under ICAI, CA is not authorized to issue such a form. It makes sense to seek clarification from the tax office itself
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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